SAMARKAND (UZBEKISTAN): Asian Development Bank (ADB) President Masato Kanda on Monday called on countries in Asia and the Pacific to strengthen cross-border cooperation to build resilience and ensure inclusive growth in an increasingly fragmented world.
Speaking at the inaugural session of ADB’s 59th Annual Meeting, Kanda said the region must “act together to develop together,” warning that isolated development strategies would be inadequate to tackle modern challenges. He noted that shocks now spread rapidly across borders through energy markets, supply chains and digital networks, disproportionately affecting vulnerable communities.
“To survive and thrive in this new era, we must build deeply connected and resilient systems,” he said, stressing the need for coordinated regional responses that go beyond national boundaries.
ADB is scaling up investments and reforms to help integrate infrastructure, markets and institutions across the region. In 2025, the bank extended $29.3 billion in financial support and introduced measures to deliver assistance more quickly and at scale.
On Sunday, ADB unveiled a $70-billion programme to strengthen regional security and resilience. This includes a $50-billion initiative to develop a pan-Asia power grid aimed at integrating renewable energy, enhancing energy security and reducing emissions, and a $20-billion plan to expand cross-border digital connectivity and bridge the digital divide.
Kanda said ADB has also moved swiftly to support member countries affected by the ongoing Middle East conflict, becoming the first development partner to offer financial assistance as economic pressures mount.
The bank expects growth in developing Asia and the Pacific to slow to 4.7 per cent this year from 5.4 per cent last year, while inflation is projected to rise to 5.2 per cent from 3.0 per cent. Prolonged disruptions from the conflict are likely to push up energy prices, tighten financial conditions and weigh on economic activity.
Under a more severe scenario involving further escalation and a spike in oil prices in May 2026, growth could slow to 4.2 per cent this year and 4 per cent next year, with inflation rising to 7.4 per cent in 2026.
Describing ADB as an “anchor of stability,” Kanda said the institution would continue to leverage its regional mandate and financial strength to address challenges such as mobilising private investment and tackling environmental degradation.
Source: Millennium Post
